7 Months Into Lending Club Review

My Lending Club account has been active now for about 7 months. At this point, a lot has happened including early accounts fully paid, late, and charged off notes.

I starts with 100 different $25 notes. For the first couple of months, I checked my Lending Club account almost daily. In total, I ended up purchasing 9 additional $25 notes with money from interest and notes that fully paid of early.

A High Level Lending Club Overview

Now that my Lending Club account is approximately 7 months old, here are my current stats:

Issued & Current: 97

In Grace Period: 1

Fully Paid: 4

Late 16-30 Days: 0

Late 31-120 Days: 4

Default: 0

Charged Off: 3

Additionally, I currently have $374.84 in available cash with an Adjusted Account Value of $2555.27. That means my Adjusted Net Annualized Return is 4.13%. I've received $210.58 in interest and Total Payments of $604.16 (Principal & Interest).

Which Lending Club Notes Have Problems

In Grace Period

E

Interest Rate: 19.99%

Term: 60

Outstanding Principal: $23.45

Payment Received: $4.15

Late 31-120 Days

E

Interest Rate: 20.99%

Term: 60

Outstanding Principal: $23.76

Payment Received: $3.35

D

Interest Rate: 16.99%

Term: 60

Outstanding Principal: $23.63

Payment Received: $3.08

E

Interest Rate: 19.19%

Term: 60

Outstanding Principal: $23.97

Payment Received: $2.58

E

Interest Rate: 18.25%

Term: 60

Outstanding Principal: $24.21

Payment Received: $1.89

Charged Off

F

Interest Rate: 22.99%

Term: 60

Outstanding Principal: $24.77

Payment Received: $1.41

F

Interest Rate: 21.99%

Term: 60

Outstanding Principal: $24.77

Payment Received: $0.80

B

Interest Rate: 11.53%

Term: 36

Outstanding Principal: $24.42

Payment Received: $0.81

My Opinion of Lending Club 7 Month Performance

Over 7 months, a total of 7 notes are late or charged off. That means I'm losing a $25 note every month. To me, this is a higher than expected rate. My hope at checking in around the 1 year mark is that I don't lose a total of 12 notes. Otherwise, I most of the notes I've purchased won't be fully paid. Most of the notes that had problems were D, E, and F quality notes. Only a single B note had problems.